ATLANTA – SunTrust Commercial Real Estate, a division of SunTrust Banks, Inc. (NYSE: STI), announced today that it has arranged a $42.7 million construction loan to Holder Properties for the development of the new corporate headquarters for Serta Simmons Bedding.
Holder Properties will develop over 210,000 square feet of office, showroom and R&D space, as well as a 550 space parking deck on the Serta Simmons headquarters campus. The development is located at Assembly, a 165 acre mixed use urban renewal project in Doraville, Ga. on the site of the former General Motors plant. Upon completion in early 2019, Serta Simmons will consolidate their corporate operations and bring approximately 500 jobs to this new development. Assembly is located near the intersection of Interstates 285 and 85 and adjacent to the Doraville MARTA (Metropolitan Atlanta Rapid Transit Authority) station. The project is designed by Rule, Joy, Trammell + Rubio and DPR is the contractor. Dom Wyant of Jones Lang Lasalle represented Serta Simmons on this transaction.
“We’re thrilled to be working with Serta Simmons and JLL to develop this corporate headquarters campus,” said John Holder, chairman & CEO of Holder Properties. “This development at Assembly with its outstanding access and future live/work/play environment will be an excellent headquarters location for Serta Simmons for many years to come. SunTrust has been a trusted financing partner for Holder Properties for many years. Their commitment to this groundbreaking project at Assembly confirmed our belief in Integral’s vision for Assembly”.
Serta Simmons Bedding, LLC is the world’s leading mattress company, and operates more than 30 manufacturing facilities across the U.S., Canada and Puerto Rico. The company is consolidating its headquarters from three locations in the Atlanta-area and one from Chicago.
Source: Furtniture Today